Welcome to Bimmerfest -- The #1 Online Community for BMW related information! Please enjoy the discussion forums below and share your experiences with the 200,000 current, new and past BMW owners. The forums are broken out by car model and into other special interest sections such as BMW European Delivery and a special forum to voice your questions to the many BMW dealers on the site to assist our members!

Please follow the links below to help get you started!

Go Back   Bimmerfest - BMW Forums > BMW Model Discussions > M Series > E46 M3 (2001-2006)

E46 M3 (2001-2006)

Reply
 
Thread Tools Display Modes
  #1  
Old 03-31-2006, 09:37 AM
Alex2 Alex2 is offline
Registered User
Location: Blowing Rock NC
 
Join Date: Mar 2006
Posts: 1
Mein Auto: BMW 325i wagon
USED M3 Questions

I am looking to buy a used M3. Something around $40k. What kind of vehicle can I get for 35-40k??? Can you guys tell me some good places to look for used M's? Also noticed that BMW CPO's are a little more expensive than private sellers... do you think it's worth it for the warranty etc.. ???? Thanks

Alex
Reply With Quote
Ads by Google
  #2  
Old 03-31-2006, 06:11 PM
crowman crowman is offline
Registered User
Location: chicago
 
Join Date: Mar 2006
Posts: 17
Mein Auto: E46 M3
Bmw 2004 E46 M3

I paid $43,000 for a 2004 M3 with 6,200 miles on it. Here is what came on this vehicle:

Cinnamon leather interior
19" wheels
Power seats etc.

This car was practically brand new. I purchased it from a bentley dealer here in chicaog area. you should note that the place I baught this car from (Luxury motors) has had some complaints in the past regarding vehicle quality etc. but my only advise would be as follows: if you have friends that know cars, take them along and do not sign anything unless you have had a BMW mechanic go through the car... it is easy to check if screws have been turned, pannels have been replaced, flood damage, etc, et. Make sure to look at the car fax, but dont let that be the only thing you do. the first BMW I ever baught was a 325i and the "reputable" BMW dealer forgot to tell me that the car he sold me had an odometer roll back issue... long story short, I was out of pocket $3,500.

The people at luxury are a little slimy, but whether other dealers like to admit it or not, they have the best prices, and if you are careful in your search some of the best cars.
Reply With Quote
  #3  
Old 03-31-2006, 07:50 PM
GregW in Oregon GregW in Oregon is offline
Officially Welcomed to the 'Fest
Location: Lake Oswego, OR
 
Join Date: Jan 2002
Posts: 437
Mein Auto: '01 M3 Coupe; '06 ML350
Used M3s

Quote:
Originally Posted by Alex2
I am looking to buy a used M3. Something around $40k. What kind of vehicle can I get for 35-40k??? Can you guys tell me some good places to look for used M's? Also noticed that BMW CPO's are a little more expensive than private sellers... do you think it's worth it for the warranty etc.. ???? Thanks

Alex
You can get a really nice, fairly current model for that amount. I would not rule out private sellers. You can tell pretty quickly if they are reliable or not. Every car I sell comes with a complete organized binder of everything that has ever been done to the car, to back up it's physical appearance. That is something you do not get with CPO cars--their past is a mystery, except for what you can get out of dealer records.

A plus with older models (2003 and older) is they have the 6 yr./100k warranty on lubricated engine parts. I would not shy away from one of these that might save you a few bucks for upgrades, especially since there have been so few enhancements over the life of this model.
__________________
Greg Lake Oswego, Oregon


2015 M4 Coupe - Silverstone/CF/Sakhir
2012 M-B ML350 - Arctic/Black/Satin Ash
Reply With Quote
  #4  
Old 04-01-2006, 10:03 PM
BayAreaBMWFan BayAreaBMWFan is offline
Back in California
Location: San Francisco Bay Area
 
Join Date: Aug 2004
Posts: 3,251
Mein Auto: '12 328 Vert; '09 Odyssey
I was looking at BMWFS leases on the M3. The residuals are really low 58% and MF are the high base rate of 0.003. However, they seem to have a high resale value. Is BMWFS just raking it in, or the resale also corresponds to the residuals
__________________
2012 328Ci Black/Black ZPP
2011 528 Black/Black Retired ZPP ZP2 BMW Apps
2005 330Ci SparkGraphite/Gray Retired ZHP, Step, Nav, Xenon, Heated Seats, PDC
2007 X3 3.0si AlpiWhite/Tobacco ED Retired Step, ZSP, ZPP, ZCW, PDC, Nav, Xenon, Privacy Glass, Servotronic, Cargo Net
2002 745Li Slate Green Metallic/Beige Retired; Perfect baby-hauler
2006 525 TiAg/Black Retired
2004 3.0 Z4 Black/Black/Black SMG Retired
2003 525iA TiAg/Gray Retired;King of all Bimmers, the E39
Reply With Quote
  #5  
Old 04-02-2006, 12:06 PM
DJ_INHALE DJ_INHALE is offline
Banned
Location: phoenix, az
 
Join Date: Mar 2006
Posts: 4,628
Mein Auto: higher mile m3
Quote:
Originally Posted by crowman
I paid $43,000 for a 2004 M3 with 6,200 miles on it. Here is what came on this vehicle:

Cinnamon leather interior
19" wheels
Power seats etc.

This car was practically brand new. I purchased it from a bentley dealer here in chicaog area. you should note that the place I baught this car from (Luxury motors) has had some complaints in the past regarding vehicle quality etc. but my only advise would be as follows: if you have friends that know cars, take them along and do not sign anything unless you have had a BMW mechanic go through the car... it is easy to check if screws have been turned, pannels have been replaced, flood damage, etc, et. Make sure to look at the car fax, but dont let that be the only thing you do. the first BMW I ever baught was a 325i and the "reputable" BMW dealer forgot to tell me that the car he sold me had an odometer roll back issue... long story short, I was out of pocket $3,500.

The people at luxury are a little slimy, but whether other dealers like to admit it or not, they have the best prices, and if you are careful in your search some of the best cars.

LOL! I know dealership you are talking about. that place has to be the smallest ever. (unless it changed) but they always have 5-10 Ms for sale and other nice cars. My friend bought his SVT cobra there (in 2003 when it was Supercharged for the first time from the factory) that place has had problems with old mafia ties in the past I guess. I remember they had the hottest chics ever working there. I think the was a "call girl" incall location too LOL. But that place brings pack some memories

I am in the same boat as the thread starter. Ideally I would like to spend 35-38k on a used m3. (2002 vert with low miles, color isnt as important to miles for me)

This is the car I am looking to buy. (do you think they may do the deal for 37k?

http://www.majormotorcars.com/inventory.html

go to inventory
m3 convertible

there site doesnt have direct links...37k? yes possible?
Reply With Quote
  #6  
Old 04-04-2006, 06:59 PM
Flyingfart Flyingfart is offline
Registered User
Location: DC
 
Join Date: Mar 2006
Posts: 31
Mein Auto: 330i
Quote:
Originally Posted by Alex2
I am looking to buy a used M3. Something around $40k. What kind of vehicle can I get for 35-40k??? Can you guys tell me some good places to look for used M's? Also noticed that BMW CPO's are a little more expensive than private sellers... do you think it's worth it for the warranty etc.. ???? Thanks

Alex
why by used for 48k yu can get new
Reply With Quote
  #7  
Old 04-04-2006, 09:32 PM
Ventoux Ventoux is offline
Officially Welcomed to the 'Fest
Location: USA
 
Join Date: Dec 2005
Posts: 135
Mein Auto: '07 335i - Ti Silver
Where did he say 48k?
Quote:
Originally Posted by Flyingfart
why by used for 48k yu can get new
Reply With Quote
  #8  
Old 04-04-2006, 09:47 PM
cjwheeling's Avatar
cjwheeling cjwheeling is offline
Need a Toyota?
Location: Ramona (San Diego), CA
 
Join Date: Jan 2006
Posts: 2,507
Mein Auto: MBZ E500
Quote:
Originally Posted by Alex2
I am looking to buy a used M3. Something around $40k. What kind of vehicle can I get for 35-40k??? Can you guys tell me some good places to look for used M's? Also noticed that BMW CPO's are a little more expensive than private sellers... do you think it's worth it for the warranty etc.. ???? Thanks

Alex
You could get lucky and buy a CPO car from a private party. I am the third owner of my car, and the second owner bought it CPO. CPO automatically transfers with no fee to the next registered owner.
Reply With Quote
  #9  
Old 04-05-2006, 08:01 PM
crowman crowman is offline
Registered User
Location: chicago
 
Join Date: Mar 2006
Posts: 17
Mein Auto: E46 M3
Quote:
Originally Posted by DJ_INHALE
LOL! I know dealership you are talking about. that place has to be the smallest ever. (unless it changed) but they always have 5-10 Ms for sale and other nice cars. My friend bought his SVT cobra there (in 2003 when it was Supercharged for the first time from the factory) that place has had problems with old mafia ties in the past I guess. I remember they had the hottest chics ever working there. I think the was a "call girl" incall location too LOL. But that place brings pack some memories

I am in the same boat as the thread starter. Ideally I would like to spend 35-38k on a used m3. (2002 vert with low miles, color isnt as important to miles for me)

This is the car I am looking to buy. (do you think they may do the deal for 37k?

http://www.majormotorcars.com/inventory.html

go to inventory
m3 convertible

there site doesnt have direct links...37k? yes possible?
Yes they do look like a small shop, but by volume they are one of the largest dealers in the US $250MM in sales. And yes, there are certainly lots of hot hot ladies walking around... I guess thats how you sell Bentleys! Every time I am over there, there is some ghetto rap star with Gold teeth and a watch made from diamonds trading in his 4 month old Bentley or Aston with crocodile skin seats and 21" wheels...

Anyway, do I think you could get the car for $37K? sure, but there are 21K miles on this O2 car... do you have to have the rag top? there is some nice stuff out there (more current) with less miles for the same price $38-40K. There are some headaches with 02 cars, i.e. I saw an engine blow up at the track one year (red 2002 M3)... I know there were fixes but wouldnt it be easier to go 2003 or 2004 (everything covered)?

Last edited by crowman; 04-05-2006 at 08:03 PM.
Reply With Quote
  #10  
Old 04-08-2006, 07:17 PM
DJ_INHALE DJ_INHALE is offline
Banned
Location: phoenix, az
 
Join Date: Mar 2006
Posts: 4,628
Mein Auto: higher mile m3
Quote:
Originally Posted by crowman
Yes they do look like a small shop, but by volume they are one of the largest dealers in the US $250MM in sales. And yes, there are certainly lots of hot hot ladies walking around... I guess thats how you sell Bentleys! Every time I am over there, there is some ghetto rap star with Gold teeth and a watch made from diamonds trading in his 4 month old Bentley or Aston with crocodile skin seats and 21" wheels...

Anyway, do I think you could get the car for $37K? sure, but there are 21K miles on this O2 car... do you have to have the rag top? there is some nice stuff out there (more current) with less miles for the same price $38-40K. There are some headaches with 02 cars, i.e. I saw an engine blow up at the track one year (red 2002 M3)... I know there were fixes but wouldnt it be easier to go 2003 or 2004 (everything covered)?

that place has the rides tho. Ton of used stuff and new things from bentleys to ferraris. The amount of M3s they have is nuts. they currently have 16 EH46 m's on hand !

http://bentleydownersgrove.com/inven...age=&ob=&desc=

^If I was back in chicago I would so buy this one but I have a trade in and I dont think I will drive my trade in back home then to trade it in....maybe I will visit my parents LOL

I was planning on buying a 2002 m3 vert based on my budget. I cant find 2003s verts with a 6 speed under 40k miles (Yes I have to have a vert and a 6 speed)

I would like to keep the price under 39K. I would pay 40k for that 2004...

I live in AZ/vegas I am willing to drive 1000 miles I guess to get one...none in cali

keep your eyes open for a m3 vert with 6 speed!



I AM still on the fence about buying a 2002. Seeing it has only 21k miles on it..... The rod bearing recall was done so it should be ok. I am not sure If I should buy the 2002 or not...... so scared and then nothing to worry about at all I think sometimes
Reply With Quote
  #11  
Old 04-12-2006, 06:48 PM
Laszlo Laszlo is offline
Life is like a 335i
Location: San Francisco
 
Join Date: Apr 2006
Posts: 587
Send a message via AIM to Laszlo Send a message via Skype™ to Laszlo
Mein Auto: 07 335i Cp, 05 BMW 325i
It is worth the peace of mind to pay a little extra and get the car from BMW with CPO. Many '03 M3s have low miles and still under factory warranty. Stay away from mods. But with any used car, you'll wonder... and wonder... what could have happened in its past? PS - Owners track and beat the crap out of these so watch out who you buy from. Tons of beaters out there.
Reply With Quote
  #12  
Old 04-14-2006, 09:55 AM
bluesguitar bluesguitar is offline
Officially Welcomed to the 'Fest
Location: Northeast
 
Join Date: Apr 2006
Posts: 103
Mein Auto: Toyota Prius
I'll probably get slammed by the "M" guys for this, but go to your dealer and drive an 06 330ci with the ZHP package before you buy the used M3. Granted the ponies aren't there, but you might be surprised at how the whole package fits together with the M components. You'll save lots on gas too!
Reply With Quote
  #13  
Old 04-14-2006, 10:43 AM
jrp's Avatar
jrp jrp is offline
Informed Badge Whore
Location: Fremont, CA
 
Join Date: Nov 2004
Posts: 460
Mein Auto: 04 M3 und 02 M3
Quote:
Originally Posted by bluesguitar
I'll probably get slammed by the "M" guys for this, but go to your dealer and drive an 06 330ci with the ZHP package before you buy the used M3. Granted the ponies aren't there, but you might be surprised at how the whole package fits together with the M components. You'll save lots on gas too!
That's actually a good bit of advice: drive them both. You'll either save a lot of money with the 330 or know exactly what you have with the M3.
__________________
Reply With Quote
  #14  
Old 04-14-2006, 10:56 AM
mtbscott's Avatar
mtbscott mtbscott is offline
Officially Welcomed to the 'Fest
Location: Houston
 
Join Date: Jul 2003
Posts: 1,128
Mein Auto: 2012 991 Carrera
Quote:
Originally Posted by BayAreaBMWFan
I was looking at BMWFS leases on the M3. The residuals are really low 58% and MF are the high base rate of 0.003. However, they seem to have a high resale value. Is BMWFS just raking it in, or the resale also corresponds to the residuals
1st off, a 58% residual is not really low in the grand scheme of things (assuming you are looking at 36 months). It may be low by BMWFS standards, but if you watch their rates long enough, you see how they heavily subsidize whatever model they are currently trying to push, those residuals are artificially high. But back to your question, I bought a 2003 M3 that was only 7 months old CPO'ed for $47500, its sticker had been around $54K. I traded it in in January with 54K miles, and almost 3 years old, and got $31K. That would be 57% of original MSRP, 65% of what I paid for it. Considering the mileage, that's pretty good in my favor. I am guessing the dealer intended to resell it in the $35K range.
Reply With Quote
  #15  
Old 04-15-2006, 12:27 PM
DJ_INHALE DJ_INHALE is offline
Banned
Location: phoenix, az
 
Join Date: Mar 2006
Posts: 4,628
Mein Auto: higher mile m3
Quote:
Originally Posted by bluesguitar
I'll probably get slammed by the "M" guys for this, but go to your dealer and drive an 06 330ci with the ZHP package before you buy the used M3. Granted the ponies aren't there, but you might be surprised at how the whole package fits together with the M components. You'll save lots on gas too!


but I like the snob/elitest appeal of an m car

yes its true I just said that
Reply With Quote
Reply

Bookmarks


Forum Navigation
Go Back   Bimmerfest - BMW Forums > BMW Model Discussions > M Series > E46 M3 (2001-2006)
Today's Posts Search
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On



Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
ModBargains | January 2005 Specials Mike@Modbargains Site Sponsors & Bimmerfest Group Buys 10 06-10-2006 07:35 AM
Thinking of buying 98 M3 Sedan..questions phrint E36 M3 (1995-1999) 1 09-04-2005 03:49 PM
General 325i to M3 questions. Hansome Rob E36 (1991 - 1999) 0 08-10-2005 05:25 PM
So I drove an E30 M3 tonight... Jetfire M Series 47 03-27-2003 06:18 PM
M3 Options Questions FairfaxM3 Regional Forums 12 09-25-2002 09:36 PM


All times are GMT -7. The time now is 09:17 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
© 2001-2011 performanceIX, Inc. All Rights Reserved .: guidelines .:. privacy .:. terms